STEVE McKNIGHT - Property Expert and Best Selling Author Benefits of Home Ownership 1. Your own home provides security (you can't be asked to leave by your landlord) 2. Your own home provides the opportunity of untaxed capital growth 3. Your own home is an investment in your future 4. For a limited time you can access up to $29,000 in Government Grants 5. Ballarat is very affordable 6. Interest rates are decreasing 7. Rents are increasing 1. Focus on Affordability * Never borrow more than you can comfortably afford to repay * It's good practice to not over extend, that way when interest rates go up again you will not be under pressure 2. Buy New or Renovated * Avoid having to find extra cash to finish the property off (eg, landscaping, window furnishings) 3. Buy close to shops and services * Access to shops and services will always be in high demand 4. Buy as many bedrooms as you can afford * If you ever need to rent the home out, you will get extra rent for the extra bedrooms 5. Don't miss the opportunity * The Government grants end on 30th of June 2009, meaning it is unlikey that there will ever be a better time to buy * With the gap between rent and repayments closing, you're better off paying off your own mortgage rather than someone elses Neil Gorman - Mortgage Choice Finance Broker Benefits of Home Ownership 1. You can use the Goverment grants and tradiotional finance to secure a home with no deposit 1. Borrowing up to 95% * Most lenders will allow you to borrow up to 95% * In regional areas First Home Buyers can access some properties that can be purchased with no deposit 2. Deposit Bonds * You can use deposit bonds as your deposit in place of cash 3. Stability in your repayments * You can fix the interest rate on all or part of your loan to provide some stability in your repayments 4. Pre Approval * Pre approval provides you with a guide of the purchase price for which you can start looking for a home * Pre approval increased confidenec the lender will lend you the money * Even with pre approval ensure you sign a contract "subject to finance" Chris Bellesini - First Home Buyers Help Benefits of Home Ownership 1. By taking advantage of the Grants, you can save $40,823 in interest over 30 years. 2. If you repay your loan based on not recieving the Grants, you can save 9 years and $101,287 over the life of your loan. 1. Buy New or Renovated * You want to avoid hidden costs like: - Window Furnishings - Landscaping - Concreting 2. Be aware of ownership costs * You will need to pay for the following expenses as a home owner | 
